Finance News


2023 was a historically successful year, with Armacell putting in a strong performance in the face of tougher macroeconomic conditions, geopolitical tensions and high inflation rates. Both our net sales and EBITDA continued to grow in line with our strategy and we did well in our key destination markets.

Financial Results 2023

Armacell Financial Highlights 2023

  • Net sales rose by 3.7% to €836.1 million by the end of 2023
  • Adjusted EBITDA at €154.6 million resulting in an adjusted EBITDA margin of 18.5%
  • Equipment in commercial buildings and industrial insulation strongest segments
  • Optimised manufacturing footprint and reinforced diversification strategy

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